After Tripling The Deficit, Obama Administration Trying To Change Its Tune On Deficits
Yesterday Obama told his economic advisory board that it’s “time to get serious” on budget deficits. Now one of his economic flaks is out repeating the message:
White House Budget Director Peter Orszag warned Tuesday that large federal deficits will eventually imperil the U.S. economy because they will lead to higher interest rates and more borrowing from overseas.
Orszag, in a speech in New York, said that deficits, expected to add $9 trillion to the current national debt of $12 trillion over the next decade, are “serious and ultimately unsustainable.”
The problem, as Gateway Pundit illustrates, is that back when the Obama administration was deficit spending in the name of economic “stimulus” the Obama administration and indeed this very same economic flak was telling us all that the deficits were sacrifices we had to make:
The question is, after tripling the deficit, is anyone really going to take Obama seriously when he says it’s time to “get serious” on deficits?
As James Pethokoukis pointed out yesterday, “Blaming Bush for economy is done as a political weapon. New polls show 49% blame Bush, 45% blame Obama. Give that number another year of high unemployment.”
Obama knows that he can’t blame Bush for the deficits any more. People just aren’t buying it (nor should they be). So now he has to pretend to be fiscally responsible. Which is going to be a tough row to hoe given the first 10 months of his administration.
